PepsiCo Earnings Preview: U.S. Beverages And Russia Sales In Focus

Apart from slowing volumes in Russia, food inflation and unfavorable currency translations are expected to lower PepsiCo's revenues in the country in the third quarter. The Russian ruble has depreciated by 14% against the U.S. dollar in the last three months, and this drop in local currency could be a headwind for the company's net revenues this quarter.